Further improvement in sales and earnings in third quarter
The Micronas Group generated consolidated net sales of CHF 225.2 million in the third quarter, 14.9 percent higher than in the previous quarter. Operating profit (EBIT) improved by 87.7 percent to CHF 27.4 million, equivalent to 12.2 percent of net sales. Order intake stood at CHF 206.8 million. The book-to-bill ratio was 0.92. Profit for the reporting period reached CHF 20.0 million, a quarter-on-quarter improvement of 65.3 percent. Earnings per share were CHF 0.62, an increase of 67.6 percent over the previous three months.
Sales for the first nine months of 2005 totaled CHF 614.3 million, a fall of 16.9 percent compared with the same period of 2004. Operating profit before depreciation and amortization of goodwill (EBITDA) decreased by 45.9 percent compared with the same period of 2004, coming in at CHF 132.7 million. Operating profit (EBIT) reached CHF 50.8 million, likewise lower than the previous year's figure. Profit for the first nine months of 2005 was CHF 39.9 million, 60.0 percent down on the same period of 2004. Profit in percent of net sales was 6.5 percent. Earnings per share were CHF 1.22.
In order to be prepared for the advent of high-definition television picture formats, a new "HD ready" label was introduced at the IFA in Berlin, one of the world's biggest consumer electronics shows. Following in the footsteps of the USA and Japan, important markers have now been set for the introduction of HDTV technology in Europe. With its two platforms - VCTP (for low-end to mid-range) and VGC (for high-end equipment) - that conform to the "HD-ready" standard, Micronas already ensures optimized coverage of customers' product categories.
The Automotive division made good progress in the first nine months of 2005. Demand for Hall sensors remained buoyant.
For the 2005 business year as a whole, the Micronas Group expects sales to reach CHF 830 to 840 million and a profit for the period of CHF 45 to 50 million.
The Micronas Group is a leading independent supplier of innovative, application-specific semiconductor solutions for consumer and automotive electronics. Its shares are listed on the SWX Swiss Exchange and on the Prime Standard segment (TecDax) in Frankfurt.